Will the correct Argentine weather outlook please stand up

Benson Quinn Commodities, for instance, took a benign view, saying late on Wednesday that “if the forecast for Argentina changed, moisture was added”.

Terry Reilly at Futures International, meanwhile, who draws on advice from World Weather, said that “the forecast for Argentina was drier than Tuesday for the next two weeks, bias western, central, and some southern parts of the country.

“The rest of the growing regions should have enough soil moisture to counter net drying conditions.”

He added that the key growing state of Buenos Aires “will be cold Friday morning but no threatening frost/freezes are expected”.

‘Need rain now’

Meanwhile, Tobin Gorey at Commonwealth Bank of Australia agreed that Argentine forecasts have changed, but was not so sanguine on the outcome.